ANNUAL REPORT 2006 - British Aerosol Manufacturers' Association

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18 FINANCIAL REPORT AND STATEMENTS REPORT OF THE EXECUTIVE COMMITTEE FOR THE YEAR ENDED 31 DECEMBER 2006 The Executive Committee present their report with the financial statements of the Association for the year ended 31 December 2006. PRINCIPAL ACTIVITY The principal activity of the Association in the year under review was that of a trade association for the British aerosol industry. EXECUTIVE COMMITTEE The Executive Committee during the year under review were: Mr J Bigley (Chairman) Mr R Wells (Hon Treasurer) Mrs J Heywood (Vice Chairman) Mr J Blottière Mr S Bowden – appointed 14.6.06 Dr K Duff Mr J Hathaway Mr N Jackson Mr A McCarthy – resigned 14.9.06 Mr B Minto Mr P Moring – appointed 14.9.06 Dr J Morris Ms Z Sturdy – resigned 14.6.06 Mr M Teller – appointed 14.6.06 CO-OPTED MEMBERS Mr P Bayley Mr C Lambert Dr M Parkington Mr A Wardell SPONSORSHIP AND CHARITABLE DONATIONS During the year the Association donated £26,333 (2005 – £13,333) by way of sponsorship and funding support towards education and the prevention of volatile substance abuse. STATEMENT OF EXECUTIVE COMMITTEE’S RESPONSIBILITIES The Executive Committee are responsible for preparing the financial statements in accordance with applicable law and regulations. Company law requires the Executive Committee to prepare financial statements for each financial year. Under that law the Executive Committee have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The financial statements are required by law to give a true and fair view of the state of affairs of the Association and of the surplus or deficit of the Association for that period. In preparing these financial statements, the Executive Committee are required to • select suitable accounting policies and then apply them consistently; • make judgements and estimates that are reasonable and prudent; • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Association will continue in business. The Executive Committee are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Association and to enable them to ensure that the financial statements comply with the Companies Act 1985. They are also responsible for safeguarding the assets of the Association and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS So far as the Executive Committee are aware, there is no relevant audit information (as defined by Section 234ZA of the Companies Act 1985) of which the Association’s auditors are unaware, and each member of the Executive Committee has taken all the steps that he or she ought to have taken as a member of the Executive Committee in order to make himself or herself aware of any relevant audit information and to establish that the Association's auditors are aware of that information. AUDITORS The auditors, Cooksey, Perry & Co, will be proposed for re-appointment in accordance with Section 385 of the Companies Act 1985. This report has been prepared in accordance with the special provisions of Part VII of the Companies Act 1985 relating to small companies. On behalf of the Executive Committee Mrs S E Rogers Secretary 20 April 2007
FINANCIAL REPORT AND STATEMENTS 19 REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF BRITISH AEROSOL MANUFACTURERS’ ASSOCIATION We have audited the financial statements of British Aerosol Manufacturers’ Association for the year ended 31 December 2006 on pages 20 to 23. These financial statements have been prepared in accordance with the accounting policies set out therein and the requirements of the Financial Reporting Standard for Smaller Entities (effective January 2005). This report is made solely to the Association's members, as a body, in accordance with Section 235 of the Companies Act 1985. Our audit work has been undertaken so that we might state to the Association's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Association and the Association's members as a body, for our audit work, for this report, or for the opinions we have formed. RESPECTIVE RESPONSIBILITIES OF EXECUTIVE COMMITTEE AND AUDITORS The Executive Committee's responsibilities for preparing the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) are set out on page 18. Our responsibility is to audit the financial statements in accordance with relevant legal and regulatory requirements and International Standards on Auditing (UK and Ireland). We report to you our opinion as to whether the financial statements give a true and fair view and are properly prepared in accordance with the Companies Act 1985. We also report to you whether in our opinion the information given in the Report of the Executive Committee is consistent with the financial statements. In addition, we report to you if, in our opinion, the Association has not kept proper accounting records, if we have not received all the information and explanations we require for our audit, or if information specified by law regarding Executive Committee remuneration and other transactions is not disclosed. We read the Report of the Executive Committee and other information accompanying the financial statements and consider the implications for our report if we become aware of any apparent misstatements within them. BASIS OF AUDIT OPINION We conducted our audit in accordance with International Standards on Auditing (UK and Ireland) issued by the Auditing Practices Board. An audit includes examination, on a test basis, of evidence relevant to the amounts and disclosures in the financial statements. It also includes an assessment of the significant estimates and judgements made by the Executive Committee in the preparation of the financial statements, and of whether the accounting policies are appropriate to the Association's circumstances, consistently applied and adequately disclosed. We planned and performed our audit so as to obtain all the information and explanations which we considered necessary in order to provide us with sufficient evidence to give reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or other irregularity or error. In forming our opinion we also evaluated the overall adequacy of the presentation of information in the financial statements. OPINION In our opinion: • the financial statements give a true and fair view, in accordance with United Kingdom Generally Accepted Accounting Practice applicable to Smaller Entities, of the state of the Association's affairs as at 31 December 2006 and of its deficit for the year then ended; • the financial statements have been properly prepared in accordance with the Companies Act 1985; and • the information given in the Report of the Executive Committee is consistent with the financial statements. Cooksey, Perry & Co Chartered Accountants Registered Auditors Wayside, Old Horsham Road, Beare Green, Dorking, Surrey, RH5 4RB 27 April 2007
Page 1 and 2: ANNUAL REPORT 2006
Page 3: ANNUAL REPORT AND ACCOUNTS 2006 For
Page 7 and 8: DIRECTOR’S REPORT: SUE ROGERS 5 D
Page 9: UK AEROSOL FILLING STATISTICS 7 UK
Page 12 and 13: 10 COMMERCIAL AND PLANNING COMMITTE
Page 14 and 15: 12 ENVIRONMENT COMMITTEE Environmen
Page 16 and 17: 14 OPERATIONAL SAFETY COMMITTEE Ope
Page 18 and 19: 16 PUBLIC RELATIONS Public Relation
Page 22 and 23: 20 20CHAIRMAN’S FINANCIAL REPORT:
Page 24 and 25: 22 FINANCIAL STATEMENTS NOTES TO TH
Page 26 and 27: 24 BAMA: MEMBER COMPANIES’ LISTIN
Page 28 and 29: 26 BAMA MEMBER COMPANIES’ LISTING
Page 30 and 31: 28 BAMA: MEMBER COMPANIES’ LISTIN
Page 32: British Aerosol Manufacturers’ As

ANNUAL REPORT 2006 - British Aerosol Manufacturers' Association

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